Cabot Corporation (NYSE:CBT) to Issue Dividend Increase – $0.47 Per Share

Cabot Corporation (NYSE:CBTGet Free Report) declared a quarterly dividend on Monday, May 4th. Investors of record on Friday, May 29th will be given a dividend of 0.4725 per share by the specialty chemicals company on Friday, June 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, May 29th. This is a 5.0% increase from Cabot’s previous quarterly dividend of $0.45.

Cabot has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Cabot has a payout ratio of 22.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cabot to earn $6.87 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 26.2%.

Cabot Stock Down 2.0%

NYSE:CBT opened at $75.80 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.09 and a current ratio of 1.67. The company has a market cap of $3.96 billion, a PE ratio of 13.27, a PEG ratio of 10.20 and a beta of 0.78. Cabot has a 52-week low of $58.33 and a 52-week high of $83.71. The stock has a 50-day simple moving average of $73.60 and a 200 day simple moving average of $70.18.

Cabot (NYSE:CBTGet Free Report) last posted its quarterly earnings data on Tuesday, February 3rd. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.13. The business had revenue of $849.00 million during the quarter, compared to the consensus estimate of $889.11 million. Cabot had a return on equity of 22.82% and a net margin of 8.62%.Cabot’s quarterly revenue was down 11.1% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. On average, sell-side analysts expect that Cabot will post 6.27 EPS for the current fiscal year.

About Cabot

(Get Free Report)

Cabot Corporation is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. Founded in 1882 by Godfrey Lowell Cabot, the company has grown into a diversified manufacturer with operations across North America, Europe, Asia and Latin America. Cabot serves a wide range of end markets, including automotive, industrial, energy, and consumer products, supplying essential ingredients that enhance performance, durability and functionality.

The company operates two primary segments: Reinforcement Materials and Performance Materials.

Further Reading

Dividend History for Cabot (NYSE:CBT)

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